New national shale oil R&D centre for China

China’s Sinopec is to head up a new national shale oil research and development centre, approved by the National Energy Administration, reports China Energy News. China is estimated to hold 10–20bn tonnes of shale oil resource, according to early industry estimates. Sinopec has been tapping shale oil formations for signs of oil in central China’s Qinyang and east China’s Jiyang basins since 2011. The state group is building the country’s first large commercial shale gas project at Fuling in the south-west, aiming for 5bn cm/y of gas by 4Q2015 and 10bn cm/y in 2017.